The Level 3, Streaming Media and Unisphere Study found that 70% of media industry respondents believe OTT will overtake TV within five years.
Roughly half of those polled said they think OTT revenues will grow by between 30% and 50% year-on-year in 2017, while nearly two thirds said that OTT-related services will account for more than a quarter of their overall business over the next three years.
“This year’s OTT Video Services study reveals clear growth in the OTT marketplace, with survey responses overwhelmingly projecting OTT viewership will exceed traditional broadcast TV viewership by 2020,” said principal report author, Tim Siglin.
“The maturation of OTT video delivery reflects key changes in the industry, including fewer bandwidth constraints and the important role live-event and live-linear OTT distribution will play as we transition from VOD-only services to those that more closely mimic traditional broadcast delivery.”
The third annual survey on OTT trends was based on responses from almost 500 media industry professionals.